"While the state-preference approach is perhaps more general than the mean variance approach and provides an elegant framework for investigating theo retical issues, it is unfortunately… Meer...
"While the state-preference approach is perhaps more general than the mean variance approach and provides an elegant framework for investigating theo retical issues, it is unfortunately difficult to give it empirical content. " I The state of the art in asset pricing has substantially changed over the past years. While the seminal CAPM represents an equilibrium model derived under rather restrictive assumptions on preferences or return distributions and places a lot of emphasis on the efficiency of a somehow arbitrary market portfolio, subsequent models were much less restrictive with respect to the underlying economic struc ture. For example, the arbitrage pricing theory maintains the linear relationship between risk and return simply by assuming the absence of arbitrage profits. While empirically more tractable than the CAPM, the main drawback of arbitrage pricing models is that they do not provide much insight into the economic and dynamic nature of risk premia. The "conditional" CAPM provides an elegant econometric framework to characterize how changing economic conditions de termine the variability of multiple risk premia. However, this framework still re quires some rather ad-hoc assumptions about the economic nature of the pricing kernel. An ingenious next step in asset pricing modeling was therefore to revert the question to be addressed. Instead of placing strong restrictions on distribu tions and preferences, observed returns are used to derive restrictions which must be imposed on the stochastic properties of the pricing kernel. A simple Euler-type equation is typically used to characterize that approach., Deutscher Universitätsverlag<
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*Global Stock Markets* - Expected returns consumption and the business cycle. Auflage 2000 / Taschenbuch für 53.49 € / Aus dem Bereich: Bücher, Wissenschaft, Wirtschaftswissenschaft Medien > Bücher nein Buch (kartoniert) Hardcover;Sozialwissenschaften, Recht, Wirtschaft;Internationale Wirtschaft, Deutscher Universitätsverlag<
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Global Stock Markets ab 96.49 € als Taschenbuch: Expected returns consumption and the business cycle. Auflage 2000. Aus dem Bereich: Bücher, Taschenbücher, Wirtschaft & Soziales, Deutsche… Meer...
Global Stock Markets ab 96.49 € als Taschenbuch: Expected returns consumption and the business cycle. Auflage 2000. Aus dem Bereich: Bücher, Taschenbücher, Wirtschaft & Soziales, Deutscher Universitätsverlag<
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(*) Uitverkocht betekent dat het boek is momenteel niet beschikbaar op elk van de bijbehorende platforms we zoeken.
"While the state-preference approach is perhaps more general than the mean variance approach and provides an elegant framework for investigating theo retical issues, it is unfortunately… Meer...
"While the state-preference approach is perhaps more general than the mean variance approach and provides an elegant framework for investigating theo retical issues, it is unfortunately difficult to give it empirical content. " I The state of the art in asset pricing has substantially changed over the past years. While the seminal CAPM represents an equilibrium model derived under rather restrictive assumptions on preferences or return distributions and places a lot of emphasis on the efficiency of a somehow arbitrary market portfolio, subsequent models were much less restrictive with respect to the underlying economic struc ture. For example, the arbitrage pricing theory maintains the linear relationship between risk and return simply by assuming the absence of arbitrage profits. While empirically more tractable than the CAPM, the main drawback of arbitrage pricing models is that they do not provide much insight into the economic and dynamic nature of risk premia. The "conditional" CAPM provides an elegant econometric framework to characterize how changing economic conditions de termine the variability of multiple risk premia. However, this framework still re quires some rather ad-hoc assumptions about the economic nature of the pricing kernel. An ingenious next step in asset pricing modeling was therefore to revert the question to be addressed. Instead of placing strong restrictions on distribu tions and preferences, observed returns are used to derive restrictions which must be imposed on the stochastic properties of the pricing kernel. A simple Euler-type equation is typically used to characterize that approach., Deutscher Universitätsverlag<
Nr. 978-3-8244-7272-7. Verzendingskosten:Worldwide free shipping, , DE. (EUR 0.00)
*Global Stock Markets* - Expected returns consumption and the business cycle. Auflage 2000 / Taschenbuch für 53.49 € / Aus dem Bereich: Bücher, Wissenschaft, Wirtschaftswissenschaft Medie… Meer...
*Global Stock Markets* - Expected returns consumption and the business cycle. Auflage 2000 / Taschenbuch für 53.49 € / Aus dem Bereich: Bücher, Wissenschaft, Wirtschaftswissenschaft Medien > Bücher nein Buch (kartoniert) Hardcover;Sozialwissenschaften, Recht, Wirtschaft;Internationale Wirtschaft, Deutscher Universitätsverlag<
Verzendingskosten:Shipping in 3 days, , Versandkostenfrei nach Hause oder Express-Lieferung in Ihre Buchhandlung., DE. (EUR 0.00)
Global Stock Markets ab 96.49 € als Taschenbuch: Expected returns consumption and the business cycle. Auflage 2000. Aus dem Bereich: Bücher, Taschenbücher, Wirtschaft & Soziales, Deutsche… Meer...
Global Stock Markets ab 96.49 € als Taschenbuch: Expected returns consumption and the business cycle. Auflage 2000. Aus dem Bereich: Bücher, Taschenbücher, Wirtschaft & Soziales, Deutscher Universitätsverlag<
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Bibliografische gegevens van het best passende boek
Gedetalleerde informatie over het boek. - Global Stock Markets
EAN (ISBN-13): 9783824472727 ISBN (ISBN-10): 3824472724 Gebonden uitgave pocket book Verschijningsjaar: 2000 Uitgever: Deutscher Universitätsverlag
Boek bevindt zich in het datenbestand sinds 2007-10-25T23:08:40+02:00 (Amsterdam) Detailpagina laatst gewijzigd op 2024-04-10T19:50:01+02:00 (Amsterdam) ISBN/EAN: 3824472724
ISBN - alternatieve schrijfwijzen: 3-8244-7272-4, 978-3-8244-7272-7 alternatieve schrijfwijzen en verwante zoekwoorden: Auteur van het boek: drobe, stock wolfgang Titel van het boek: business, stock return, stock wolfgang
Gegevens van de uitgever
Auteur: Wolfgang Drobetz Titel: Global Stock Markets - Expected returns, consumption, and the business cycle Uitgeverij: Deutscher Universitätsverlag; Deutscher Universitätsverlag 332 Bladzijden Verschijningsjaar: 2000-10-30 Wiesbaden; DE Gewicht: 0,521 kg Taal: Engels 54,99 € (DE)
BC; Emerging Markets/Globalization; Hardcover, Softcover / Wirtschaft/Internationale Wirtschaft; Entwicklungsökonomie und Schwellenländer; Verstehen; International Financial Market; arbitrage; asset pricing; asset pricing model; business; business cycle; econometrics; efficiency; equilibrium; financial market; financial markets; modeling; portfolio; pricing; science and technology; Marketing; Emerging Markets and Globalization; Marketing; Marketing und Vertrieb; EA
Time varying expected returns and the business cycle on international financial markets - Testing a conditional version of the consumption-based asset pricing model - Volatility bounds for stochastic discount factors on global financial markets - Mean reversion and rational pricing on global stock markets
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